possible loophole??

MonkeyMad

As has been suggested earlier the level of technology necessary needed to track your spending equates to a pen and paper. As my mother told me 'You can only spend each Pound once'

As I know what commitments I have made, if I have written a cheque I really couldn't care less how long it takes to clear. Just leave money in the account until it is drawn. I usually take cash for personal debts.

Graham_Devon

k1mmie wrote: »

I was always under the impression by what I had been told in the past that once a transaction is made the money is earmarked and therefore not available to spend. This should be the case, many of us who make regular transactions cannot always keep track of every penny that is spent. With technology today there is no excuse for the delay! I pressume the same people who are advocating the banks on this are the same guys who think it is reasonable with todays technology to still take 5/7 days to cloear a cheque!

It is earmarked in a way, depending on the shop setup and the POS system.

However, just because you have had £990 of your £1000 earmarked, it does not mean you cannot spend another £50 on your electricity bill.

jo_ray

look, i think if they said, all bill paying over the phone or what ever, would take 3 days, and all retail would be instant , this would be reasonable to most , as everyday use needs, updating every day,then we know where we stand with our accounts, and cards are a main type of currency these days , but it's the inconsistancy of it all, that is off putting to some, and bloody annoying to others. only the bank can tell the retailers they must do this, nothing will change unless we tell the bank,something needs to change

shellsuit

What happened to being responsible for what you do with your money?

I used to go shopping and spend money in various shops with my card.

I'd come home, get out my receipts and jot down the total amount spent, then take that figure from my bank balance so I knew how much was still in there.

I don't use my card at all now, I withdraw all my cash apart from some to cover DD's and standing orders.

It's not difficult is it?!

If there are 2 people using one account, then you need to tell each other what you have spent each day. If you can't do that, you can't hold the bank responsible. (Believe me, I've done it with my OH in the past but not once when we went overdrawn did I blame the bank - it was out own faults)

Labman_2

jo_ray wrote: »

.....something needs to change....

.....yes I agree, you need to take responsibility for spending money you've not got.

MonkeyMad

shellsuit wrote: »

What happened to being responsible for what you do with your money?

I didn't think modern English allowed the use of the words 'personal' and 'responsibility' to be used next to each other?

Why on earth would a bank care when retailers ask for their money? The shop is the one taking the risk that your account will be empty when they try to collect. By paying with ANYTHING other than cash you give the retailer a promise that you will have money available when they ask for it. The onus is therefore on you not to make more promises than you can honour. If that is not possible use cash.
We've said this before, a debit card is little more than a glorified IOU and will be treated as cash or as a promise at the discretion of the shopkeeper.

Some of my work brings me into contact with people who are desperately poor, and I mean poor enough to decide whether to buy something like a few sweets for their children or not. The majority of them have fairly impressive budgeting skills, and manage to keep their families afloat through holding a tight rein. I have ZERO sympathy for people who will not take control when they know what the problem is.

jo_ray

we could debate about the issue forever, but fact still remains,the bank can do something about it, if told it's a problem, rather than avoiding the card.

i'm going on my hols today, most of you know i have compained, people who think it applies to you, do the same, i will let you know, when i know.or check in when i'm back.

p.s i bet ,if i said he got him money back like this ,you would all be doing it by now, instead of having a holier than thou attitude.

bye ,for now

Mark7799

k1mmie wrote: »

I was always under the impression by what I had been told in the past that once a transaction is made the money is earmarked and therefore not available to spend. This should be the case, many of us who make regular transactions cannot always keep track of every penny that is spent.

Why not?
Are your financial affairs that complicated?

Personally, I keep a list of s/o & d/d on a spreadsheet and update it roughly every other day. It takes all of 3 - 4 minutes on a busy time and I reconcile every few days with online banking.

viktory

LISALOU32 wrote: »

Bengal Stripe I Find Your Comments Towards Jo-ray Offensive And Rude, U Are Judging Others Mentality By Your Own,of Stupitity We Do Not Require An External Agent For Infant School Basic's Of Your 10 Apple Theory, What We Do Exspect Is That Our Problems Are Meet With Helping Solutions Hence Posting On This Site And Not Arrogant And Out And Out Rudeness By Peole Like Yourself. And A Final Note For Lindilou39 Well Done With Your Apple Sauce Well Done You Made It All On Your Own,move Over Gordan Ramsey Lets Just Hope It Did'nt Ruin Your Sunday Lunch And Smell Like Your Attitude Coz That Stank.

Why are you typing with caps at the start of every word?

Did your carer never teach you that sarcasm is the lowest form of wit?

I know what is in my bank account, I know when the DD's are due and if I withdraw money I get a balance. It's not rocket science.

Graham_Devon

jo_ray wrote: »

we could debate about the issue forever, but fact still remains,the bank can do something about it, if told it's a problem, rather than avoiding the card.

i'm going on my hols today, most of you know i have compained, people who think it applies to you, do the same, i will let you know, when i know.or check in when i'm back.

p.s i bet ,if i said he got him money back like this ,you would all be doing it by now, instead of having a holier than thou attitude.

bye ,for now

Do you read? How many times do I have to say it's not the banks? This is like the 7th time or something. Then you say we have a holier than thou attitude problem, LOL!!!!